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2.9 Million Borrowers Will Not Have To Pay Their Student Loans Under New Biden Plan

The Biden administration announced last week that under a new repayment scheme, nearly three million borrowers would not be required to make payments on their student loans. According to recently disclosed data from the Education Department, millions of borrowers have enrolled in the new program, with over half of them receiving income-based exemptions from student loan payments.
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Lower Payments and Potential Student Loan Forgiveness Under Biden’s New SAVE Plan
Ahead of the commencement of student loan payments, the Biden administration introduced the Saving on a Valuable Education plan earlier this year. SAVE is an income-driven repayment plan that bases monthly payments on the family size and income of the borrower. Borrowers who enroll in SAVE and ultimately fail to return their entire sum by the end of their repayment period may also be eligible for eventual forgiveness of their student loans.
SAVE was created by the administration to be a more cost-effective repayment option than previous schemes. Based on an enhanced definition of poverty, SAVE eliminates a sizable portion of income from the plan’s repayment computation. For income that surpasses this excluded level, a more affordable formula is applied.
Data from the Education Department provided this week shows that as of mid-October, at least 5.5 million borrowers have enrolled in SAVE.
Secretary of Education Miguel Cardona stated in a statement on Wednesday, “Under President Biden, the Department created the SAVE Plan so that young people and working families can climb the economic ladder without unaffordable student loan debt weighing them down.” “I’m delighted to see that nearly 5.5 million Americans are utilizing the many benefits of the SAVE Plan in less than three months, in every community across the nation.”
Millions of people will be in arrears but will still be eligible for credit toward student loan forgiveness.
For a single borrower making less than $32,800 per year, the enlarged poverty exemption under SAVE would mean a $0 monthly payment. Given that the poverty exclusion level is based on family size, a borrower who makes less than $67,000 per month and has four family members would likewise be eligible for a $0 monthly payment under SAVE.
More than half of the borrowers enrolled in SAVE to date, or 2.9 million, will make no monthly payment, according to figures from the Education Department. This implies that they won’t be required to make payments on their federal student loans that qualify for SAVE. Depending on whether a borrower’s federal student loans were taken out for graduate school, even $0 “payments” contribute toward the borrower’s 20- or 25-year student debt forgiveness term under SAVE. Borrowers may be eligible to get retroactive “credit” toward their IDR student loan forgiveness period through a different Biden administration effort known as the IDR Account Adjustment.
“The SAVE program, launched by the Biden-Harris administration, has registered nearly 5.5 million Americans. Additionally, under this scheme, roughly three million Americans currently get $0 in monthly payments, the White House tweeted on Wednesday.
The interest subsidy offered by SAVE is noteworthy as well, as it waives any interest that beyond a borrower’s monthly payment. Therefore, while these 2.9 million borrowers make zero monthly payments, in effect, no interest will be accrued. This implies that their loan total won’t rise over time, which has always been a significant drawback of income-driven plans. Due to the lack of official guidance from the Education Department regarding the timing of the interest waiver—such as monthly, quarterly, or a specific number of days following a billing due date—borrowers may initially experience accrued interest that is later waived or discharged.
Faster Student Loan Repayment Among Other Benefits Start Up Next Year
The regulations that govern SAVE are not fully implemented at this time. Other features will launch in July 2024. Among these is a more advantageous monthly payment schedule that enables undergraduate borrowers to significantly lower their student loan payments by up to 50%. Furthermore, rather than 20 or 25 years, debtors with lower starting balances may be eligible for student loan forgiveness in as little as 10 years.
Since payments are made in increments of 12 months under all income-driven plans, including SAVE, borrowers are required to recertify their income on an annual basis. In the event that their income fluctuates, their monthly payments may be modified in the years that follow. However, the Biden administration is introducing an automatic income recertification feature that will enable borrowers to choose to participate in a data-sharing program, thereby removing the need for borrowers to go through the laborious manual income renewal process that has historically existed. This will allow the IRS to provide annual income updates to the Education Department.
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Kim Kardashian Reveals Her Secret Lip Tattoo On ‘The Kardashians’

Kim Kardashian helps plan hairstylist Chris Appleton’s Vegas wedding weekend, and the subject of tattoos comes up. In a twist no one saw coming, Kim, 43, has some shocking news to share with the world. In the November 9 episode of The Kardashians, Kim shows off her secret lip tattoo. Kim explains that she got the lip tattoo after hosting Saturday Night Live on October 9, 2021.
She pulls down her lip to show Chris the tattoo, which is a simple infinity symbol on the inside of her lower lip. Kim and all of her friends got matching tattoos after she made her SNL hosting debut. While her friends got the infinity symbol on their hands, Kim decided to get hers on her lip!
Kim hosting SNL in 2021 has proven to be one of the most memorable nights for the reality star. That’s the night her romance with Pete Davidson first sparked. Kim and Pete dated from October 2021 to August 2022. While they were dating, Pete got “my girl is a lawyer” tattooed near his collarbone and “Kim” inked on his chest.
Kim also reveals videos she took of the night she got her lip tattoo. La La Anthony was by Kim’s side and holding her legs as the tattoo artist inked up Kim’s lip. “I finally put a bumper sticker on a Bentley,” Kim says to Chris.
The SKIMS founder admits that “no one knows” about her tattoo, and she even forgets about it most of the time. Kim does admit that she’ll sometimes freak out when she sees the black ink on her lip when she’s flossing her teeth.
Back in 2009, Kim famously talked about her lack of ink during an interview on The Wendy Williams Show. When Wendy Williams asked Kim about having no tattoos, Kim replied, “Honey, would you put a bumper sticker on a Bentley?” Well, times have certainly changed for Kimmy K!
Kim plans the most epic wedding weekend for her longtime hairstylist and Lukas Gage. She surprises them with a special Shania Twain performance and even officiates their ceremony. New episodes of The Kardashians premiere Thursdays on Hulu.
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‘The Golden Bachelor’s Faith Martin Was In A Rut Before Turning 60. Here, She Reveals What Changed

Martin has vowed not to look back or wish she had her revelation sooner. She will not turn back, no matter what happens with Turner, 72. Rather, she’s accepting the lessons the challenging years have taught her.
“My face is covered in numerous scars. Although I haven’t been kind to myself, things are as they are,” she remarks. “I’m too busy right now enjoying life, working, and doing the things I love.” We feel happiest when we pursue our passions. Perhaps we also appear younger.
In the latest episode of Drop the Routine on Glamour, Martin shares her self-care routine, particularly in light of her experience with skin cancer. She also discusses her willingness to discuss injectables and her go-to moisturizer.
Since I developed skin cancer on my nose last year, sunscreen is the one thing I’ve become fervent about. Because of the divot that resulted from the biopsy on my nose, I always advise people to use sunscreen. Unfortunately, a lot of sunscreens have an odd fragrance, cover your face entirely in white, and make you appear strange. However, Superscreen Daily Moisturizer SPF 40 from Supergoop applies easily and transparently. I also use the tinted moisturizer with sunscreen from Supergoop!. After that, I just applied bronzer. I only use bronzer; I don’t use foundation.
Frank’s rosehip oil body as lotions frequently feel [too] thick on the skin. And I use coconut oil—the cooking kind—if I’m not using this. I simply grab the jug. I started using coconut oil since the thick lotions didn’t feel right and I would get dry patches while I was outside in the sun. I would simply grab some olive or coconut oil and apply it to myself. I also wrapped it around my cuticles. I always apply Nivea to my neck as well.
We frequently have the opportunity to perform endorsement-type work in radio, so I do advertisements for the New U Women’s Clinic & Aesthetics in Washington. In 2018, they requested that I do an AquaGold microchannel microinjector treatment. Your own blood platelets are extracted, and Botox and filler are also injected. They applied pressure to my entire body. And I promise that as soon as they completed that, I became aware of a change in the texture of my skin. Because I have complete faith in Dr. Rachel Fidino, I’m fine if she gives me a little prod here and there. Twice a year, I have Botox, specifically for the wrinkles that run between my eyebrows. You’re sitting there thinking to yourself, “Why am I poking myself and hurting my face with this?” However, after four days or so, you say, “Yes, I really love this.”
The New York Times best-selling book The Big Bang Theory: The Definitive, Inside Story of the Epic Hit Series was written by Jessica Radloff, senior West Coast editor for Glamour.
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Zac Efron Would Be ‘Honored’ To Play Matthew Perry In Biopic

The fact that he is no longer with us still breaks my heart, 36-year-old Zac Efron said to Extra on Wednesday, November 8.
Perry wanted Efron to portray a younger version of him in a potential biopic, according to his friend Athenna Crosby, who made this revelation in an interview with ET Canada following the Friends alum’s passing.
“I felt incredibly honored. On Wednesday, Efron stated, “To do it would be extraordinary.” “We’ll observe the situation.”
Crosby claims that Perry stated he “was gonna ask [Efron] soon” about the potential part.
Following his death at the age of 54, actor Matthew Perry is being mourned by celebrities. Perry passed away on Saturday, October 28, apparently from drowning. After receiving a call about a person experiencing cardiac arrest, police reportedly discovered the actor unconscious in a bathtub at a Los Angeles residence. Ian Ziering, a collaborator with […]
Efron continued, “To think he was thinking of me for that role, I mean I would be honored to do it, to be honest,” in a separate interview with Entertainment Tonight on Wednesday.
“I had the best time of my life working with him,” Efron continued, referring to Perry as “the best guy in the world” and telling the publication.
In the 2009 film 17 Again, Efron portrayed Mike O’Donnell, Perry’s younger role.
On April 14, 2009, in Hollywood, Michelle Trachtenberg, Zac Efron, Leslie Mann, and Matthew Perry attend the film’s premiere. Getty Images/Kevin Winter
On October 28, Perry’s death was announced following what seemed to be a drowning at his Los Angeles residence. In a statement released on October 30, the Los Angeles Fire Department said that he was discovered “unconscious in a stand-alone jacuzzi.”
The statement went on, “Firefighters removed the man from the water upon their arrival after a bystander had brought his head above the water and gotten him to the edge.” Sadly, a quick medical examination found the individual had passed away before first responders could arrive.
Before a toxicology study is completed, Perry’s cause of death has not been disclosed.
Crosby exclusively told Us Weekly on November 1 that Perry “was in a good state of mind” prior to his death. In the final days before his passing, she spent time with the actor.
“He was quite happy to be hanging out and was talking the entire time. He was “talking about his life and sharing with me funny stories about his time in the industry,” she continued, calling it “great.”
After becoming well-known for playing Chandler Bing in the television series Friends, Matthew Perry never hesitated to talk openly about his personal troubles. For a period, when [fame] occurs, it’s similar to Disneyland. This sensation of “I’ve made it, I’m thrilled, there’s no problem in the world” lasted for me for almost eight months. [..]
He was talking about how happy he was to have a second act and how his acting goals had been hampered by problems, but he had overcome them all and was eager to get back into it full force, according to Crosby.
Along with having a great acting career, Perry was committed to supporting people who battled drug addiction.
“I don’t want Friends to be the first thing that people talk about when I die,” Perry stated in a November 2022 audio interview with Tom Power’s “Q.””I want to live the rest of my life proving that it should be the first thing mentioned.”
Our Matthew Perry-themed special issue is now available.
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